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4-Traders Homepage  >  Equities  >  Stock Exchange of Hong Kong  >  Tencent Holdings Ltd    0700   KYG875721634

TENCENT HOLDINGS LTD (0700)
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Tencent : India's Ola said to raise $2 billion from SoftBank, Tencent - Bloomberg

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10/02/2017 | 06:50pm CEST

(Reuters) - India's ride-hailing company Ola on Monday secured $2 billion (1.50 billion pounds) in new funding from a group of investors, including SoftBank Group Corp (>> SoftBank Group Corp) and Tencent Holdings Ltd (>> Tencent Holdings Ltd), Bloomberg reported, citing a person familiar with the matter.

(Reuters) - India's ride-hailing company Ola on Monday secured $2 billion (1.50 billion pounds) in new funding from a group of investors, including SoftBank Group Corp (>> SoftBank Group Corp) and Tencent Holdings Ltd (>> Tencent Holdings Ltd), Bloomberg reported, citing a person familiar with the matter.

The funding round isn't finished yet and the amount could change, the person said.

The funding is also backed by venture capital fund jointly run by Indian industrialist Ratan Tata, the University of California's investment arm and U.S. institutional investors, Bloomberg said, citing people familiar with the deal. (https://bloom.bg/2fEUzVH)

Japan's SoftBank has been looking to play consolidator in India's flourishing startup ecosystem with investments that include about $1 billion in e-commerce company Snapdeal and $70 million in grocery delivery group Grofers.

Ola and SoftBank declined to comment, while Tencent was not immediately available for comment.

(Reporting by Shubham Kalia in Bengaluru; Editing by Arun Koyyur)

Stocks treated in this article : Tencent Holdings Ltd, SoftBank Group Corp
Stocks mentioned in the article
ChangeLast1st jan.
SOFTBANK GROUP CORP -2.07% 7889 End-of-day quote.-14.44%
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Financials ( CNY)
Sales 2018 340 B
EBIT 2018 103 B
Net income 2018 85 276 M
Finance 2018 99 491 M
Yield 2018 0,29%
P/E ratio 2018 37,03
P/E ratio 2019 28,91
EV / Sales 2018 8,87x
EV / Sales 2019 6,42x
Capitalization 3 119 B
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Mean consensus OUTPERFORM
Number of Analysts 39
Average target price 419  CNY
Spread / Average Target 27%
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Managers
NameTitle
Hua Teng Ma Chairman & Chief Executive Officer
Chi Ping Lau President & Executive Director
Yu Xin Ren COO & President-Interactive Entertainment Group
Shek Hon Lo Chief Financial Officer & Senior Vice President
Zhi Dong Zhang Chief Technology Officer
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